Been debating silver eagles vs generic for my IRA

Elizabeth Johnson

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Been debating silver eagles vs generic for my IRA

elizabeth_johnson💰Established (100-250k)

about 2 months ago

Key Takeaways

•I'm an accountant here in Atlanta, and I've been really focused on diversifying my retirement portfolio beyond just stocks and bonds.
•I've done my homework on the tax benefits, obviously, and feel pretty good about that side of things.
•My main internal debate right now is around silver – specifically, putting some of that into my precious metals IRA.

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I'm an accountant here in Atlanta, and I've been really focused on diversifying my retirement portfolio beyond just stocks and bonds. I've got about half my savings, so around $150k, already in a pretty traditional 401k/IRA mix, but I'm looking to put another $20-30k into a Gold IRA. I've done my homework on the tax benefits, obviously, and feel pretty good about that side of things. My main internal debate right now is around silver – specifically, putting some of that into my precious metals IRA.

My big question is: silver Eagles or generic rounds? On the one hand, American Silver Eagles are recognizable, have a higher purity guarantee, and, let's be honest, they look pretty darn cool. I also feel like they might have a bit more liquidity if I ever needed to sell quickly. The downside is the premium, which seems to have been fairly high lately. I've been watching it pretty closely for the last few months, and it just feels like I'd be leaving a decent chunk of my investment on the table right off the bat.

Then there are generic silver rounds. Lower premiums, more silver for your buck. That sounds great for accumulating ounces, which is the primary goal for long-term hold in an IRA, right? My concern there is the lack of official government backing and potential for wider bid/ask spreads when it's time to liquidate. Are these concerns overblown for a retirement account where I'm planning to hold for 20+ years? I'm not planning on day trading this stuff, it's really for a hedge against inflation and market uncertainty.

Has anyone here faced a similar dilemma when setting up their precious metals IRA? What did you end up going with and why? Any specific experiences with premiums on generics versus Eagles when buying or selling out of an IRA? I'm also planning to use a tool I found called the Retirement Planner to help model out different asset allocations, so any input helps solidify my decision here.

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5 comments

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Best Answer▲ 9 upvotes

helen_turner💰Established (100-250k)

Hey, that's a classic debate! For IRAs, you gotta make sure whatever you pick is IRA-eligible, which is where some "generics" might fall short if they're not 0.999 fine or meet other purity standards.

I find this IRS publication on IRA-approved metals super helpful for clarifying what actually qualifies. Good luck with your decision!

Comments (5)

joyce_cooper📊Growing (50-100k)✓ Verified•about 2 months ago

Hey, that's a good chunk of change you're looking to diversify! When you say "generic," are you talking about rounds/bars from well-known refiners like Sunshine Mint or Johnson Matthey, or something less established? Curious what you're considering there.

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Totally get where you're coming from! I had a similar internal debate for my own Precious Metals IRA a few years back. Ended up going with a mix, honestly. Got some Eagles for the "recognized value" factor and then snagged some generic bars when I saw good premiums. Felt like a decent compromise between the two. Good luck with your decision!

betty_king📊Growing (50-100k)•about 2 months ago

Honestly, for an IRA, I'd lean more towards gold to really get that diversification away from the dollar. Silver definitely has its place, but typically gold is seen as the ultimate safe haven and hedge against inflation. If you're looking for something that historically performs differently than your stocks and bonds, gold might be the stronger play, even if it means fewer ounces for the same dollar amount.

helen_turner💰Established (100-250k)Real Investor•about 2 months ago

I find this IRS publication on IRA-approved metals super helpful for clarifying what actually qualifies. Good luck with your decision!

ronald_morris👑Elite (1m-5m)Real Investor•about 2 months ago

Totally agree with your approach here. I've been wrestling with the exact same thing for my own IRA. For me, the Eagles felt like a safer bet for the long haul, especially with the recognition factor if I ever decide to sell. I've got about $75k in my self-directed IRA, and went about 70/30 Eagles to generic bars. Glad to hear I'm not the only one thinking this way!

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